KingSun acquisition targets emerge, transaction value is about 2 billion 900 million!

In the four trading days after the suspension, KingSun acquisition of mysterious educational assets has finally surfaced. On December 16th evening announcement that its wholly-owned subsidiary of QINSHANG Industrial (Hongkong) Co. Ltd. (hereinafter referred to as the "Hongkong KingSun") intends to take the form of cash acquired Eddie Education Group (hereinafter referred to as "Eddie education"), the acquisition matters Preliminary Valuation of 2 billion 900 million yuan RMB equivalent US dollars.

According KingSun preliminary planning, follow-up company or Hongkong Qinshang does not rule out related party cooperation through the establishment of the fund company or enterprise share subscription funds, or through other arrangements for the implementation of the acquisition.

Public information, Beijing Eddie school is an education group founded by Eddie, the Beijing Municipal Education Commission, the State Ministry of education for the record, the Australian government approval, the government level Chinese and Australia cooperation projects, is the first and only a Chinese by English opened completely in line with international standards of teaching courses and the creation of the United States synchronization of Australia English curriculum, curriculum, degree of popular international school of international recognition, enter the Chinese in 1997. Provide a one-stop international education system from kindergarten to grade 12, the existing more than 3000 students, the school graduates at present, has transported to the United States, Britain, Australia, Canada, New Zealand and more than 10 countries nearly 11000 people.

Public information display Eddie campus existing more than 3 thousand students, the school had already delivered more than 1600 students to go to Australia, Canada, Britain, New Zealand, the United States and other countries in the world, more than 90% have bachelor's degrees or above, more than 70% emigrated overseas, known as "the successful example of educational cooperation between China and australia".

For this acquisition project, KingSun announced that the recent national version of "Private Education Promotion Law" through the audit, provides the legal basis and guidance of the future development of the private education industry in china. The company expects the future education industry will usher in rapid development period, the transaction will further promote the company in the field of private education in the business layout and development, improve the comprehensive competitiveness of the company, a solid foundation for the company to integrate and expand in the field of education lay, help the company continued stable and rapid development.

In December 13th, KingSun issued a notice of suspension, announced that a wholly owned subsidiary intends to planning equity acquisitions, the underlying asset belongs to the education industry, is expected to amount has reached the shareholders' meeting the criteria. KingSun report shows that 2015 of the total assets of 3 billion 241 million yuan, while the Eddie international education has more than 2 billion 900 million yuan valuation, KingSun total assets of 50%, fully meet the principle of "50% provisions of the Shenzhen Stock Exchange Listing Rules".

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